Are membership dues paid to nonprofits considered a donation or program revenue? It comes down to whether the member receives a significant benefit or an insignificant one. Understanding the difference ensures nonprofits report these contributions correctly on Form 990.
Read more on the benefits and drawbacks private clubs must consider when deciding whether to operate as a taxable or tax-exempt organization.
Everything has changed with FASB’s new revenue recognition standards and it’s time for all remaining organizations to implement the new revenue recognition standards that originated in May 2014.